- ODP Corp (NASDAQ:ODP) expects the second-quarter fiscal year 2022 sales of $2.0 billion, marginally below the consensus of $2.04 billion.
- The company expects Q2 adjusted EPS of $0.78 – $0.80 and adjusted EBITDA of $89 million – $91 million.
- ODP expects operating cash flow from continuing operations of $(113 million) – $(115 million).
- The company sees FY22 sales of $8.45 billion – $8.60 billion, above the consensus of $8.41 billion. Adjusted EPS of $4.10 – $4.50 and adjusted EBITDA of $430 million – $460 million.
- The company’s Board of Directors has approved a new $600 million share repurchase authorization, available through June 30, 2024.
- As a part of this new authorization, ODP also launched a $300 million modified “Dutch auction” cash tender offer to be funded through its cash on hand and asset-based lending facility.
- Price Action: ODP shares are trading higher by 6.32% at $33.50 in premarket on the last check Monday.
This Western Digital Analyst Expects 2Q Earnings At High End Of Guidance: ‘Risk-Reward Is Attractive’
Shares of Western Digital Corp (NASDAQ: WDC) climbed in early trading on Tuesday, along with other stocks that received forecast revisions by top analysts.
